The market size of HBPA epoxy resin is estimated at USD 1.7 billion in 2018 and is projected to reach USD 2.2 billion by 2023, at a CAGR of 5.1% between 2018 and 2023. There is an increase in the demand for HBPA epoxy resin in the industrial and E&E coating segments to protect the machines and industrial infrastructure from external weather conditions and chemical attack. Increasing urbanization and industrialization are the key factors driving the demand for HBPA epoxy resin in these applications. However, volatility in raw material prices and high price of HBPA epoxy resin are hampering the market growth.
The growth of the power generation industry in developing countries and an increase in the need to protect concrete floors in industrial and commercial facilities are expected to drive the demand for HBPA epoxy resin during the forecast period. The key players in the HBPA epoxy resin market include, Hexion (US), Atul Chemicals (India), New Japan Chemical Company (Japan), Aditya Birla Chemicals (India), Kukdo Chemicals (South Korea), Anhui Xinyuan Chemical Company (China), SIR Industriale (Italy), Emerald Performance Material (US), and Nagase America Corporation (US). The HBPA epoxy resin market report analyzes the key growth strategies adopted by the leading market players, between 2013 and 2018. These strategies include investment expansion, new product launch, partnership, and merger & acquisition.
